The Value of Investing in Canadian Downtowns - International ...

Downtowns are iconic and powerful symbols for a city
The downtowns featured in this report often contain the most iconic landmarks, distinctive features, and unique
neighbourhoods in their respective cities. Moreover, given that the downtowns were one of the oldest
neighbourhoods citywide, they offered rare insights into their city’s past, present and future. For example, downtown
Halifax is one of Canada’s oldest maritime cities where people can experience the past simply by walking the same
distinct street grid pattern from the 1700s, looking down to the same harbour, and up to the same Citadel as
residents did centuries ago. The downtown case studies also provided a strong representation of the city in the
present. For example, Toronto has emerged as a powerful financial centre, its downtown skyline reflects this
prosperity and dominance more than any other neighbourhood. Lastly, the downtown provides an opportunity for
each city to differentiate themselves. For example, the City of Vancouver is striving to emerge as one of the world’s
greenest cities and many of the major projects that set an example are located downtown.
Downtown views are iconic and known around the world
Downtowns may be physically small in area, but are typically highly visible
The downtowns in this project occupy only a small land area (some do not even take up one percent of their City’s
total land area). Yet, these downtown nodes are all major economic, social and cultural hubs and are highly visible
and valued by the population at large. Despite this high level of visibility, a challenge frequently referenced by
interviewees is that as cities grow in size and area, the downtown can receive declining priority as efforts and
resources are directed to building new communities on the peripheries.
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